Corruption and its Manifestation in the Persian Gulf

Corruption and its Manifestation in the Persian Gulf

Hossein Askari, Iran Professor of International Business and Professor of International Affairs, The George Washington University, Scheherazade Sabina Rehman, Professor of International Finance/Business and Professor of International Affairs, The George Washington University and Noora Arfaa, Consultant to the Oil, Gas, and Mining Policy Division, the World Bank, US

The authors of this timely book investigate various forms and measures of corruption, examine whether corruption is more acute in Persian Gulf countries than elsewhere, and illustrate the unique forms it takes in oil- and natural gas-rich economies. They also analyze the major factors that promote corrupt practices and how they impact economic growth and social development.

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The authors of this timely book investigate various forms and measures of corruption, examine whether corruption is more acute in Persian Gulf countries than elsewhere, and illustrate the unique forms it takes in oil- and natural gas-rich economies. They also analyze the major factors that promote corrupt practices and how they impact economic growth and social development.

While corruption is globally pervasive and adversely affects the interests of citizens worldwide, it has perhaps received the most notoriety in developing countries that have an abundance of mineral deposits. Among these developing countries, the oil-exporting countries of the Persian Gulf have received a significant amount of this attention in the popular media. This book argues that for intergenerational equity to be preserved while exploiting oil and gas reserves, other forms of capital must replace their depletion to preserve a constant capital stock. Corruption, wasteful expenditures – such as spending on armament and war – and even productive expenditures – those that enrich individual segments of society – rob much of the world’s population. The authors conclude the book by offering a radical solution for containing corruption in natural resource-rich countries.

This timely and thought-provoking work will resonate within the academic and business worlds alike. Those interested in Middle Eastern studies, the Persian Gulf, multinational corporations, corporate governance efforts and private NGOs will find this book of particular importance.

Contents: Preface 1. Introduction to Corruption in the Persian Gulf 2. Islamic Teachings and Corruption 3. A Review of the Causes and Consequences of Corruption 5. The Impact of Oil and Gas Dependency on Corruption 6. Corruption, Economic Growth and the Petroleum Sector in the Persian Gulf 7. Addressing Corruption, the Natural Resource Curse and Intergenerational Equity in the Persian Gulf References Index